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@accaglobal_bot For Uzbek students https://t.me/accauzbekistana f5 https://t.me/f5performancemanagament f7 https://t.me/FRfinancialreporting f8 https://t.me/f8auditandassurance f9 https://t.me/F9FinancialManagment
Section B classic
- VAT, CGT, IHT
Section C classic
- IT, CT and another IT 10marker.
Corporation tax questions mainly focuses on disallowed expenses with group relief
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VAT mainly administration questions, beware of exclusive and inclusive terms
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Section B
30 mark question
-describe components of internal control (5)
-five direct controls and test of controls (10 )
-five deficiencies and recommendations(10)
-substantive procedure (6) can't remember
20 mark question
-define audit materiality and performance materiality(4)
-ratios (2)
-audit risk and response (14)
20 mark question
- substantive procedures on valuation of inventory (6)
-substantive procedure on revaluation(5)
-substantive procedure on revenue (4)
-Issue and impact on auditors report relating to management refusal to ammendment the financial statements (5)
In throughput accounting, if we increase the limiting factor how will it affect the throughput accounting ratio?
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In tranfer pricing, if no external market exists, only internal market is there, what will be the tranfer price? Mc or full cost?
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sp for legal claims, payroll expense, & addition to ppe
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Section A. IHT VAT questions, due date of taxes, Payment on account questions and others
Section B. IHT, VAT and CGT
Section C: Employment income, Self employment with allowable expenses, And how married people can save money in case of transfer or using PA, Company tax calculation with showing all allowable and not allowable expenses.
Income Tax calculation vs. corporation tax liability comparison
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IHT in sec B pretty easy mostly theory part was there
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Audit arrangement, Reports, procedures and test of controls, Audit risks and response, Internal control, threats to auditors etc
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They r from few chapters
Risk
Control amd deficiency
CG
Substantive procedure
Where a perfectly competitive market for a product exists the minimum TP should be market price (RULE 1)
Ø Where there is SURPLUS CAPACITY in the transferring division the TP should be set at marginal cost (as Fixed costs will be incurred regardless)(RULE 2)
Ø Where the transferring division is at FULL CAPACITY the TP should be set at marginal cost plus the opportunity cost of what is lost by transferring.(RULE 3)
Ø The maximum transfer price (that the buying division would be ready to pay) shall always be the lowest price at which the buying division could obtain the same or comparable product in the open market(RULE 4)
Morning session for AAA
Q1
-business risk
-audit risk
-inventory why is ROMM and procedure for assertion valuation
-professional issue and ethical for sustainabilit report
Q2
-matter to consider accepting new group audit client
Q3
-professional issue and ethical
-evaluate appropriate and sufficient work done on projected cash flow
-audit opinion regarding to the going concern
“Quality management deficiencies” if i am not mistaken
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Control deficiency in employees swipe in and out card
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